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• Module coordinator: Dr Ysabel Nauwelaerts
• Language: English
• ECTS credits: 6
Course objectives
The course provides a solid economic basis for understanding the behaviour of the modern corporation in a rapidly changing global environment. The focus of the course is on key concepts and models that are essential for understanding international strategic management practice. Many of the concepts will be presented from a European perspective.
Entry requirements
Basic knowledge of international economics and management.
Course description
Understanding recent trends in globalization and regionalization, especially within the EU, requires a view of the economics of corporate strategy including a review of the basic economic theories of the firm.
The theory of the multinational firm explains why and how firms invest in — or cooperate with — other countries and which modes should be selected to optimize new market entry. The study of the interaction of comparative advantages of countries and competitive advantages of firms helps to understand the complex international and EU strategies and networks in global industries. The more recent strategic management literature offers another important framework for analyzing the dynamics of international strategies of firms.
Together, they lead to a better understanding of the corporate structure and portfolio, the processes of planning, implementing and controlling the international activities and offer answers to questions like: global or local, integrate or adapt, make or buy, centralize or decentralize, on an international scale.
The important functional areas in the global firm like the international marketing and human resources function will be discussed in detail. Finally, we will focus on the international structure and strategies in some particular global sectors. Special attention will be paid to the European dimension and the effects of EU integration on international corporate strategies.
Teaching method
The module will be offered in the form of lectures, illustrated with relevant case studies and recent data on trade, FDI, M&A’s,… from the World Investment Report. The actual cases will lead to a better understanding of the theoretical part and to a dynamic interaction and discussion among the students.
Assessment
There will be a written examination.
Course material
The handbook of Cavusgil, Knight and Riesenberger, 2008, “International Business; Strategy, Management and the New Realities” contains the core concepts which will be studied in depth during the course and which will be illustrated with a collection of recent case studies. We will also discuss the most recent publication of the World Investment Report (WIR).
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